Public Storage (NYSE:PSA) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company decreased its holdings in Public Storage (NYSE:PSA) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,424 shares of the real estate investment trust’s stock after selling 75 shares during the quarter. Romano Brothers AND Company’s holdings in Public Storage were worth $1,025,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Prospera Private Wealth LLC purchased a new position in Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the 3rd quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage in the 3rd quarter valued at about $50,000. Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage during the third quarter worth about $55,000. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Public Storage by 39.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on PSA shares. Truist Financial lifted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI decreased their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada decreased their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Morgan Stanley increased their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Price Performance

Shares of NYSE PSA opened at $296.25 on Friday. The stock has a market cap of $51.88 billion, a P/E ratio of 30.76, a P/E/G ratio of 4.65 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a 50 day moving average of $316.96 and a two-hundred day moving average of $325.35. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.05%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.